Sharekhan is bullish on Amara Raja Batteries has recommended buy rating on the stock with a target price of Rs 629 in its research report dated May 20, 2022.
In terms of valuations, Amara Raja is now trading at 10.8 times FY24 projected earnings, which appears attractive, especially following the >45% correction from January'21 high. MC Pro advises investors to include the stock for the long term. Here's why
The Nifty 50 must surpass 16,800-17,000 levels to gain strength, which is possible if geopolitical tensions ease. However, 16,400-16,200 will act as crucial support levels, experts said.
Sharekhan is bullish on Amara Raja Batteries has recommended buy rating on the stock with a target price of Rs 784 in its research report dated February 10, 2022.
The recent development indicates that Nifty could test the previous swing low placed at 16,410. The support derived from, upward sloping trend line, adjoining the weekly lows January 29, 2021 and April 23, 2021 also coincides with swing low of 16,410, says Vinay Rajani of HDFC Securities
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Sharekhan is bullish on Amara Raja Batteries has recommended buy rating on the stock with a target price of Rs 784 in its research report dated November 29, 2021.
Net Sales are expected to increase by 11 percent Y-o-Y (up 13.9 percent Q-o-Q) to Rs 2,148.8 crore, according to Motilal Oswal.
Vijayanand said Amamra Raja has been making about Rs 400 to Rs 500 crore investment on capex and sustaining the existing businesses traditionally every year.
The investment will boost development of indigenous technologies in India's nascent advanced battery sector for fast emerging storage and mobility solutions.
Net Sales are expected to increase by 53.4 percent Y-o-Y (down 16 percent Q-o-Q) to Rs 1,766 crore, according to Sharekhan.
Several factors to charge up performance of Amara Raja Batteries further
With the long-term moving average sloping upwards, the next logical target for the stock is placed at Rs 1,115-1,350 which translates into an upside of 50-80% from the June 18 closing price of Rs 748, suggest experts.
Battery manufacturers Amara Raja Battery and Exide Industries remained resilient during the first wave of COVID-19, and are expected to stay strong during the second wave as well, given the strong replacement demand. Demand concerns due to the COVID-19 second wave have led to corrections in the stock prices of these companies (Amara Raja’s stock price is down 24% from a 52-week high, while Exide’s is down 12% from its 52-week high). We believe that this soft patch provides a good entry point with a long-term view.
Battery makers Amara Raja Batteries and Exide Industries are expected to remain strong this time too aided by replacement demand
ICICI Direct recommended reduce rating on Amara Raja Batteries with a target price of Rs 700 in its research report dated May 25, 2021.
According to a CNBC-TV18 report, Clarios was to sell 17.1 million shares for an aggregate of $174 million today. The floor price for the same had been fixed at Rs 746 per share. As of March 31, 2021, Clarios ARBL Holding LP held a 41 million or 24 percent stake in Amara Raja Batteries, the shareholding pattern data shows.
ICICI Direct recommended reduce rating on Amara Raja Batteries with a target price of Rs 800 in its research report dated February 26, 2021.
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Geojit is bullish on Amara Raja Batteries has recommended buy rating on the stock with a target price of Rs 1129 in its research report dated February 23, 2021.
Amara Raj has already invested Rs 20 crore into the hub, excluding technology transfer and bidding fees paid to the ISRO in January 2019 when the company along with nine others won competitive bids from the national space agency.